AbbVie (NYSE:ABBV) Stock Price Down 0.8% – What’s Next?

AbbVie Inc. (NYSE:ABBV)’s stock price traded down 0.8% on Wednesday . The stock traded as low as $209.31 and last traded at $211.78. 1,562,848 shares changed hands during trading, a decline of 74% from the average session volume of 6,056,749 shares. The stock had previously closed at $213.59.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Citigroup boosted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Guggenheim boosted their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley boosted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Trading Down 0.1 %

The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $373.19 billion, a P/E ratio of 88.07, a PEG ratio of 1.62 and a beta of 0.61. The firm’s 50-day simple moving average is $190.48 and its 200 day simple moving average is $188.06.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the firm posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PKO Investment Management Joint Stock Co acquired a new stake in AbbVie during the fourth quarter valued at approximately $2,399,000. Northstar Financial Companies Inc. acquired a new stake in AbbVie during the fourth quarter valued at approximately $1,219,000. Centaurus Financial Inc. lifted its stake in AbbVie by 2.3% during the fourth quarter. Centaurus Financial Inc. now owns 8,507 shares of the company’s stock valued at $1,512,000 after purchasing an additional 188 shares during the last quarter. Lighthouse Financial LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at approximately $700,000. Finally, Anchor Pointe Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at approximately $210,000. 70.23% of the stock is owned by institutional investors and hedge funds.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.